Meridia, Idaho Entrepreneur Gets a Small Business Loan

IdahoSBA loans are available to Idaho entrepreneurs through the SBA. In this case, an Idaho bank provides the loan.

This business, based in Meridia, Idaho, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Bank Of The Cascades. We've got the inside scoop on this Idaho small business loan.

SBA Loan Borrower

COMPANY TYPE: BRICK, STONE, AND RELATED CONSTRUCTION MATERIALS
MERIDIA, ID 83642

SBA Loan Lender

BANK OF THE CASCADES
121 N 9TH ST, STE 200
BOISE, ID 83702

This business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5032 - Brick, Stone, and Related Construction Materials

NAICS Code

423320 - Brick, Stone, and Related Construction Material Merchant Wholesalers

Loan Approval Date

9/15/2005

Loan Approval Gross Amount

$105,000

Loan Approval from the SBA

Of the total $105,000 loan amount, the SBA guaranteed $89,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

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